Does this include lease offers as well or is it specifically purchase offers?
This is an outrageous document which will destroy the value of your property, both for you and your heirs.
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Concur, there is so much wrong with this document. Mark through it with a big magic marker on every page NO NO NO and either shred it or put in your files of an example for what not to do.
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I’ve seen Continental’s Leasing Agents do this in Texas lately in the Oil & Gas Leases they’re taking. Everything is filed on Memo, but the Lease itself states it.
A right of first refusal should absolutely be not be included in an oil and gas lease due to the longevity of the lease and potential destruction of value. It is another reason why mineral owners should not sign documents that they do not understand. I would not work with any landman or company which suggested such a thing. In the case above, it is stated to be in perpetuity which may be contrary to Texas law. Here is a link to a 2010 law review article on this subject. https://www.baylor.edu/content/services/document.php/117444.p
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Oh I agree @TennisDaze. I saw it in the deep rights OGL’s Brazos River Resources was taking on the Midland and Ector County line area.
Bradley, first this is not legal advice. Do not consider executing this document. People or companies that present a document of this type generally have knowledge of other properties which you may not be aware of your ownership. As a landman, I would not do business with a client that asked me to present such a document to a mineral owner. Good luck.
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